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School of Business and Management

'France swats aside EU budget rules in rearmament blitz'

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'France has invoked emergency powers to sweep aside EU deficit rules and retake control over its economy after the terrorist atrocities in Paris, pledging a massive increase in security and defence spending whatever the cost.'

In his article on the economic repercussions of the recent terrorist attacks in Paris, The Telegraph's Ambrose Evans-Pritchard quotes Professor Brigitte Granville from the School of Business and Management: 

"Professor Brigitte Granville from Queen Mary University of London said the country has been losing competitiveness within Europe’s monetary union for so long – not helped by a labour code still 3,648 pages - that it is now caught in a stagnation trap with the wrong intra-EMU exchange rate. She warned that the country is on a slow slide towards economic “catastrophe”. 

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